黑料网

STOCK TITAN

San Juan Basin Royalty Trust Announces April Cash Distribution

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
San Juan Basin Royalty Trust declared a monthly cash distribution of $1,065,685.42 or $0.022864 per Unit for February 2024 production, payable on May 14, 2024. Hilcorp reported net profits of $2,473,219 gross ($1,854,914 net royalty amount to the Trust) from the Subject Interests. Gas revenues totaled $5,376,466, with an average gas price of $3.06 per Mcf. The Trustee is increasing cash reserves to $2.0 million to cover potential revenue shortfalls.
Il San Juan Basin Royalty Trust ha dichiarato una distribuzione in contanti mensile di 1.065.685,42 dollari, ovvero 0,022864 dollari per unit脿 per la produzione di febbraio 2024, pagabile il 14 maggio 2024. Hilcorp ha riportato utili netti di 2.473.219 dollari lordi (1.854.914 dollari di montante netto di royalty per il Trust) dagli interessi sottoposti. I ricavi del gas sono stati di 5.376.466 dollari, con un prezzo medio del gas di 3,06 dollari per Mcf. Il fiduciario sta aumentando le riserve di cassa a 2 milioni di dollari per coprire potenziali carenze di entrate.
El San Juan Basin Royalty Trust declar贸 una distribuci贸n de efectivo mensual de 1.065.685,42 d贸lares o 0,022864 d贸lares por Unidad para la producci贸n de febrero de 2024, pagadero el 14 de mayo de 2024. Hilcorp inform贸 ganancias netas de 2.473.219 d贸lares brutos (1.854.914 d贸lares de monto neto de regal铆as para el Trust) de los Intereses Objeto. Los ingresos por gas totalizaron 5.376.466 d贸lares, con un precio medio del gas de 3,06 d贸lares por Mcf. El fideicomisario est谩 aumentando las reservas de efectivo a 2,0 millones de d贸lares para cubrir posibles d茅ficits de ingresos.
靷 頉勳晥 氩犾澊鞁 搿滌棿韹 韸鸽煬鞀ろ姼電 2024雲 2鞗 靸濎偘攵勳棎 雽頃 雼渼雼 0.022864雼煬 霕愲姅 齑 1,065,685.42雼煬鞚 鞗旉皠 順勱笀 氚半嫻鞚 靹犾柛頃橃榾鞙茧┌, 2024雲 5鞗 14鞚检棎 歆旮夒惄雼堧嫟. Hilcorp電 雽靸 鞚错暣甏瓿勲攵韯 2,473,219雼煬鞚 齑濎澊鞚(韸鸽煬鞀ろ姼 靾 搿滌棿韹 旮堨暋 1,854,914雼煬)鞚 氤搓碃頄堨姷雼堧嫟. 臧鞀 靾橃瀰鞚 齑 5,376,466雼煬搿, 韽夑窢 臧鞀 臧瓴╈潃 Mcf雼 3.06雼煬鞓鞀惦媹雼. 靾橅儊鞛愲姅 鞛犾灛鞝 靾橃瀰 攵臁膘潉 雽牍勴暣 順勱笀 欷牍勱笀鞚 2氚彪 雼煬搿 歃濌皜鞁滍偆瓿 鞛堨姷雼堧嫟.
Le San Juan Basin Royalty Trust a d茅clar茅 une distribution mensuelle en esp猫ces de 1 065 685,42 dollars, soit 0,022864 dollars par Unit茅 pour la production de f茅vrier 2024, payable le 14 mai 2024. Hilcorp a rapport茅 des b茅n茅fices nets de 2 473 219 dollars bruts (1 854 914 dollars de montant net de redevance pour le Trust) sur les Int茅r锚ts Concern茅s. Les revenus du gaz se sont 茅lev茅s 脿 5 376 466 dollars, avec un prix moyen du gaz de 3,06 dollars par Mcf. Le trustee augmente les r茅serves de tr茅sorerie 脿 2,0 millions de dollars pour couvrir d'茅ventuelles insuffisances de revenus.
Das San Juan Basin Royalty Trust hat eine monatliche Baraussch眉ttung von 1.065.685,42 Dollar oder 0,022864 Dollar pro Einheit f眉r die Produktion im Februar 2024 erkl盲rt, zahlbar am 14. Mai 2024. Hilcorp meldete einen Nettogewinn von 2.473.219 Dollar Brutto (1.854.914 Dollar Nettolizenzgeb眉hr f眉r das Trust) aus den betreffenden Interessen. Die Gasums盲tze beliefen sich auf 5.376.466 Dollar, mit einem durchschnittlichen Gaspreis von 3,06 Dollar pro Mcf. Der Treuh盲nder erh枚ht die Bargeldreserven auf 2,0 Millionen Dollar, um potenzielle Einnahmeausf盲lle zu decken.
Positive
  • Monthly cash distribution of $1,065,685.42 declared for February 2024 production.
  • Hilcorp reported net profits of $2,473,219 gross ($1,854,914 net royalty amount to the Trust) from the Subject Interests.
  • Gas revenues totaled $5,376,466, with an average gas price of $3.06 per Mcf for February 2024.
  • Trustee increasing cash reserves to $2.0 million to cover potential revenue shortfalls.
Negative
  • Potential revenue shortfalls from lower commodity prices or increased capital expenditures under Hilcorp's 2024 project plan.
  • Ongoing audit process by professional consultants and outside counsel to ensure compliance with Trust agreements.

DALLAS, April 19, 2024 /PRNewswire/ -- Argent Trust Company, as the trustee (the "Trustee") of the San Juan Basin Royalty Trust (the "Trust") (NYSE: SJT), today declared a monthly cash distribution to the holders (the "Unit Holders") of its units of beneficial interest (the "Units") of $1,065,685.42 or $0.022864 per Unit, based primarily upon the reported production of the Trust's subject interests (the "Subject Interests") during the month of February 2024. The distribution is payable May 14, 2024, to the Unit Holders of record as of April 30, 2024.

For the production month of February 2024, the owner of the Subject Interests, Hilcorp San Juan L.P. and the operator of the Subject Interests, Hilcorp Energy Company (collectively, "Hilcorp"), reported to the Trust net profits of $2,473,219 gross ($1,854,914 net royalty amount to the Trust).

Hilcorp reported $5,635,271 of total revenue from the Subject Interests for the production month of February 2024, consisting of $5,376,466 of gas revenues and $75,828 of oil revenues. For the Subject Interests, Hilcorp reported $3,162,053 of production costs for the production month of February 2024, consisting of $2,368,182 of lease operating expenses, $698,716 of severance taxes, and $95,155 of capital costs.

Based upon information provided to the Trust by Hilcorp, gas volumes for the subject interests for February 2024 totaled 1,759,503 Mcf (1,955,004 MMBtu), as compared to 1,808,545 Mcf (2,009,495 MMBtu) for January 2024. Dividing gas revenues by production volume yielded an average gas price for February 2024 of $3.06 per Mcf ($2.75 per MMBtu), as compared to an average gas price for January 2024 of $3.64 per Mcf ($3.28 per MMBtu).

Pursuant to the Amended and Restated Royalty Trust Indenture, dated December 12, 2007 (as amended on February 15, 2024, by the First Amendment to the Amended and Restated Royalty Trust Indenture), the Trustee is authorized to retain, in its sole discretion, a cash reserve for payment of Trust liabilities that are contingent or uncertain or otherwise not currently due and payable. The Trustee previously maintained a cash reserve in the amount of $1.0 million. However, in order to cover Trust expenses during any period of revenue shortfall, which could result from lower commodity prices or increased capital expenditures under Hilcorp's 2024 project plan for the Subject Interests, the Trustee is increasing the cash reserves over the coming months to $2.0 million. The Trustee reserved $400,000 in cash from the royalty income received by the Trust in March 2024, and will reserve $400,000 in cash from the royalty income received by the Trust in April 2024, which will bring the balance of cash reserves maintained by the Trustee to $1.8 million.

Production from the Subject Interests continues to be gathered, processed, and sold under market sensitive and customary agreements, as recommended for approval by the Trust's Consultant. The Trustee continues to engage with Hilcorp regarding its ongoing accounting and reporting to the Trust, and the Trust's third-party compliance auditors continue to audit payments made by Hilcorp to the Trust, inclusive of sales revenues, production costs, capital expenditures, adjustments, actualizations, and recoupments. The Trust's auditing process has also included detailed analysis of Hilcorp's pricing and rates charged. As previously disclosed in the Trust's filings, these revenues and costs (along with all costs) are the subject of the Trust's ongoing comprehensive audit process by our professional consultants and outside counsel to ensure full compliance with all the underlying operative Trust agreements and evaluating all available potential remedies in the event there is evidence of non-compliance.

Forward Looking Statements. Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as "estimates," "anticipates," "could," "plan," or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust's reports and other filings with the Securities and Exchange Commission.

Contact:

San Juan Basin Royalty Trust聽
Argent Trust Company, Trustee聽
Nancy Willis, Director of Royalty Trust Services聽
Toll-free: (855) 588-7839 or (866) 809-4553聽
Fax: (214) 559-7010聽
奥别产蝉颈迟别:听
贰尘补颈濒:听royaltytrustgroup@argenttrust.com

Cision View original content:

SOURCE San Juan Basin Royalty Trust

FAQ

What is the monthly cash distribution declared by San Juan Basin Royalty Trust for February 2024 production?

San Juan Basin Royalty Trust declared a monthly cash distribution of $1,065,685.42 or $0.022864 per Unit.

Who reported net profits from the Subject Interests to the Trust?

Hilcorp reported net profits of $2,473,219 gross ($1,854,914 net royalty amount to the Trust).

What were the total gas revenues for February 2024 production?

Gas revenues totaled $5,376,466.

Why is the Trustee increasing cash reserves?

The Trustee is increasing cash reserves to $2.0 million to cover potential revenue shortfalls.

San Juan Basin Royalty Trust UBI

NYSE:SJT

SJT Rankings

SJT Latest News

SJT Stock Data

195.76M
46.61M
10.99%
2.17%
Oil & Gas E&P
Oil Royalty Traders
United States of America
DALLAS